Sotherly Hotels Stock Price, News & Analysis

Sotherly Hotels Inc. (NASDAQ: SOHO) reported Q1 2022 results, showing total revenue of $38.4M, up from $22.6M in Q1 2021. The net loss attributable to common stockholders improved to $2.5M from $9.1M a year earlier. Hotel EBITDA was approximately $10M, an increase from $4.2M in Q1 2021. Despite a significant rise in room revenue per available room (RevPAR) to $100.89, it remains below the 2019 figure of $121.86. The quarterly dividend was suspended to maintain liquidity. The company expects a 1% decline in Composite RevPAR for Q2 2022 compared to Q2 2019.

Sotherly Hotels Inc. (NASDAQ: SOHO) will announce its Q1 2022 financial results on May 12, 2022, before market opening. A conference call for investors is scheduled for 10:00 a.m. ET that day, where management will discuss the results. The earnings release will be available on the Company's website prior to the call. Sotherly Hotels is focused on upscale hotel properties, owning 11 hotels and interests in two condominium hotels, totaling 2,976 rooms. The Company operates under brands like Hilton and Hyatt and was established in 2004.

Sotherly Hotels Inc. (NASDAQ: SOHO) reported preliminary Q1 2022 operating results for its eleven wholly-owned properties. Key metrics included an occupancy rate of 38.9% in January, increasing to 69.5% by March, reflecting a 41% year-over-year growth. Average Daily Rate (ADR) rose from $152.83 in January to $184.65 in March (+23%), while Revenue Per Available Room (RevPAR) improved from $58.67 to $127.51 (+33.1%). The company noted strong recovery trends despite challenges from the Omicron variant, driven by increased business and group travel. Currently, they operate 2,976 rooms across the Southern U.S.

Sotherly Hotels Inc. (NASDAQ: SOHO) reported its Q4 2021 results, with total revenue reaching $35.1 million, up from $14.6 million in Q4 2020. However, it remains 20.8% below Q4 2019 revenue. The net loss attributable to common stockholders was $17.2 million, and adjusted FFO showed improvement of 85.4% year-over-year. Despite increased RevPAR to $85.80, occupancy was still 12.7% lower than 2019. The Company suspended dividends to preserve liquidity. Looking ahead, Q1 2022 is forecasted to see a 20% decline in Composite RevPAR compared to Q1 2019.

Sotherly Hotels Inc. (NASDAQ: SOHO) has successfully sold the Sheraton Louisville Riverside Hotel in Jeffersonville, Indiana for $11.5 million. This sale, which provides an EBITDA multiple of approximately 21.0 and a cap rate of 2.5% based on 2019 results, is expected to enhance the company's cash flow. CEO Dave Folsom emphasized that the asset no longer aligned with the company’s strategic objectives, and its sale will enable Sotherly to focus on growth within its core portfolio, aiming to maximize shareholder value.

Sotherly Hotels Inc. (NASDAQ: SOHO) announced it will release its fourth quarter 2021 financial results on March 3, 2022, before market opening. A conference call for investors will take place at 10:00 a.m. ET the same day, where management will discuss the results. Investors can access the earnings release on the company’s website, and listen to the conference call via phone or online. Sotherly Hotels focuses on acquiring and repositioning upscale hotels mainly in the Southern U.S., with a portfolio of 12 properties totaling 3,156 rooms.

Sotherly Hotels Inc. (NASDAQ: SOHO) announced preliminary operating results for Q4 2021, revealing a mixed performance across its twelve properties. Occupancy rates stood at 60.0% in October, 55.9% in November, and dropped to 46.4% in December, reflecting a decline of 21.9%, 18.0%, and 17.9% compared to 2019, respectively. Average Daily Rate (ADR) showed slight decreases in October and November but a positive 7.4% in December. RevPAR decreased significantly, with a decline of 23.0% in October, 20.0% in November, and 11.8% in December. The company expresses optimism despite ongoing COVID disruptions.

Sotherly Hotels Inc. (NASDAQ: SOHO) reported significant growth in its third-quarter results for 2021, with total revenue reaching $35.5 million, up 146% from $14.4 million in Q3 2020. Despite this rebound, net loss attributable to common stockholders was $4.3 million, an improvement from a $12.3 million loss in the same quarter last year. The company mentioned a RevPAR of $90.16, down 9.9% from 2019 levels, but occupancy increased to 56.3%. The company suspended its regular quarterly cash dividend to preserve liquidity amidst ongoing uncertainties.

Sotherly Hotels Inc. (NASDAQ: SOHO) will announce its third quarter 2021 financial results on November 12, 2021, before the market opens. An investor conference call is scheduled for 10:00 AM ET that same day, where company management will discuss the results. The earnings release will be accessible on the company's website, highlighting performance metrics from its portfolio of upscale hotels in the Southern U.S., which encompasses 12 properties and 3,156 rooms.